Bank of America Corp DE Makes New $45.06 Million Investment in Harley-Davidson, Inc. $HOG

Bank of America Corp DE bought a new stake in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,842,376 shares of the company's stock, valued at approximately $45,065,000. Bank of America Corp DE owned 1.77% of Harley-Davidson as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HOG. BlackRock Inc. acquired a new stake in shares of Harley-Davidson in the second quarter valued at about $249,395,000. Donald Smith & CO. Inc. acquired a new stake in Harley-Davidson in the 2nd quarter worth about $226,966,000. Bank of New York Mellon Corp increased its stake in Harley-Davidson by 8.4% during the 1st quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock worth $42,675,000 after buying an additional 163,762 shares in the last quarter. Aegis Financial Corp acquired a new position in shares of Harley-Davidson during the first quarter valued at approximately $27,681,000. Finally, Norges Bank purchased a new position in shares of Harley-Davidson in the fourth quarter valued at approximately $25,766,000. Hedge funds and other institutional investors own 85.10% of the company's stock.

Analyst Upgrades and Downgrades

HOG has been the subject of a number of research reports. Weiss Ratings raised shares of Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Harley-Davidson from a "sell" rating to a "hold" rating in a research note on Saturday. Robert W. Baird raised their target price on shares of Harley-Davidson from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, July 24th. Citigroup boosted their target price on Harley-Davidson from $27.00 to $31.00 and gave the stock a "neutral" rating in a report on Tuesday, September 8th. Finally, DA Davidson upped their price target on Harley-Davidson from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.44.

Harley-Davidson Trading Up 1.2%

Shares of HOG opened at $26.25 on Tuesday. Harley-Davidson, Inc. has a 12-month low of $17.09 and a 12-month high of $29.88. The firm has a market capitalization of $2.73 billion, a P/E ratio of 16.10, a P/E/G ratio of 8.52 and a beta of 1.29. The firm has a 50-day moving average price of $26.85 and a 200 day moving average price of $24.32. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. Harley-Davidson's revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Sell-side analysts forecast that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Harley-Davidson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Harley-Davidson's dividend payout ratio is 46.01%.

Insiders Place Their Bets

In other Harley-Davidson news, CEO Artie Starrs acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $25.89 per share, with a total value of $258,900.00. Following the transaction, the chief executive officer owned 25,000 shares of the company's stock, valued at $647,250. This trade represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel Nova acquired 40,000 shares of Harley-Davidson stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $24.57 per share, for a total transaction of $982,800.00. Following the completion of the acquisition, the director owned 47,605 shares in the company, valued at $1,169,654.85. This trade represents a 525.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 57,500 shares of company stock valued at $1,439,550 and have sold 4,662 shares valued at $119,316. 0.97% of the stock is currently owned by company insiders.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a Milwaukee, Wisconsin-based motorcycle company founded in 1903. Through its Harley-Davidson Motor Company business, it designs, manufactures and sells heavyweight motorcycles known for their touring, cruiser and performance-oriented models. The company also markets motorcycle parts, accessories, riding gear, apparel and branded merchandise.

Harley-Davidson sells its products through a network of independently owned dealerships and other distribution channels in North America and international markets, including Europe, the Middle East, Africa, Asia-Pacific and Latin America.

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